Baghdad – conscious
Prime Minister Muhammad Shiaa Al-Sudani spoke from New York about the most important strategic files, while confirming the cessation of gasoline imports at the beginning of next year after the completion of the project. FCC In Basra.
The Prime Minister’s Media Office stated in a statement received by the (INA), that “Prime Minister Muhammad Shiaa Al-Sudani participated in New York, after midnight last Wednesday, in a dialogue session held by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen and company representatives.” American, and the Iraqi-American Business Council.
During the session, he pointed to “the new reality of Iraq, which is witnessing an economic renaissance and development in all its sectors. It has also made great strides in the field of energy investment and associated gas, which has been wasted for years and inflicts on the country losses estimated at billions of dollars, due to the import of gas and oil derivatives.”
He stressed, “The government has embarked on a series of rapid projects, including the important agreement with Total, which will contribute to increasing oil production and associated gas investment up to (600) million standard cubic feet, in addition to offering the fifth and sixth round supplements, and concluding contracts for oil production and gas investment.” Stating that, “After 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as the rehabilitation of the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, amounting to Its production capacity is 150 thousand barrels per day.
The Prime Minister said during the dialogue session: “When I assumed my duties as prime minister, the associated gas investment was less than 40 percent, and now the percentage has risen to about 70 percent.”
He added: “We have ended the import of petroleum derivatives, and we will stop importing gasoline at the beginning of next year, after completing the project.” FCC In Basra.
He continued: “We are ready to enter into a partnership with American companies in the oil industry sector,” noting that “Iraq’s vision is to convert 40% of the exported oil into downstream industries, which will provide more benefits than selling crude oil.”
He pointed out that “the government’s policy is based on diversifying the contracting parties that invest in our oil and gas fields without specific conditions,” noting that “the licensing round procedures are clear and transparent and there is no favoritism or preference for one company over another.”
He added, “Development cannot be achieved without a solid banking sector that operates in accordance with approved international standards, and 95% of financial transfers in Iraqi trade take place through reliable banks.”
He explained, “The window for selling the currency will be closed at the end of this year, and the money laundering office in the central bank is working effectively,” noting that “the government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizen confidence in banks and expanded financial inclusion.” .
He stressed, “Iraq today is going through an unprecedented stage of stability and recovery since 2003, and it is an opportunity to support the transition from the stage of wars and conflicts to the stage of development and stability,” noting that “Iraq is stable in a sensitive region, which is a beneficial thing for the world. This is what we have seen since October 7.” “Iraq maintained balance and calm to a great extent, and we kept Iraq away from the arena of conflict.”
He pointed out, “The security forces have reached an advanced stage of capability and efficiency, and we have begun an arming program to enhance their capabilities, and ISIS today does not represent a threat to our security,” noting “the need for American small and medium companies to enter into partnerships with Iraqi companies.”
He added: “We are working to create job opportunities for young people by activating the private sector or supporting their own projects, through several programs, including the (Riyada) initiative,” noting that “the size of the projects granted for investment will provide a large number of jobs, and the necessity of opening companies operating in Iraq.” Training centers to develop youth capabilities.
He continued: “We assured the companies working in the electricity sector to establish stations maintenance centers in order to speed up completion and reduce costs,” noting that “the government has a clear direction to support the agricultural sector, and farmers and peasants are in a transition phase to using modern irrigation technologies, which the government has supported by 30%.”
He added: “We provided loans to workers in the food industry sector of various types, and part of them are covered by sovereign guarantees,” pointing out that “the Central Bank has independence and exercises its powers with complete professionalism, and there is an intention to establish a new bank that adopts the latest technologies.”
He called on “all companies working in the field of electronic payment to work in Iraq,” stressing that “all facilities will be provided to them.”
He concluded, “We have drawn up a plan to develop infrastructure, with allocations amounting to $83 billion.”